Cut GST on AC Restaurants, Composition Scheme: Ministerial panel

10:40:00 AM, Monday 30th of October 2017 | in business

A ministerial panel recommends changes in current GST rate to make it more attractive and also to reduce the tax burden. The panel suggested lowering tax rates for manufacturers and restaurants to 1% which currently stood at 2% and 5% respectively. The tax levied on AC and non-AC restaurants should be same at 12% which currently stood at 12% and 18%, the panel added. The panel was headed by Assam FM Himanta Biswa Sarma.